The new capital will be used to scale operations, including platform and blockchain tech development, Ucollex board member Roberto Grande told CoinDesk in an email. The funding will also help drive marketing efforts related to significant intellectual property (IP) partnerships, which will be announced soon. Source
sponsored NFTs have emerged as the biggest trend on the blockchain industry due to their massive popularity with mainstream users. This novelty form of digital assets have enabled artists and creators to mint and monetize their creations without going through complex processes associated with traditional platforms. Therefore, it is unsurprising that the NFT trade volume increased nearly three-fold from $2.67 billion in December 2021 to $6.86 billion in January 2022, according to data from The Block Research. Adoption by social media platforms Twitter, Reddit and Meta, have also accelerated the…
On Tuesday, the Solana-based non-fungible token (NFT) marketplace Magic Eden announced the project is airdropping NFT tickets to existing Magic Eden users and plans to form a decentralized autonomous organization (DAO). On February 21, the Magic Eden project airdropped around 4,000 NFTs to active wallets, and the following day the team announced the DAO roadmap. The Magic Ticket Airdrop and DAO According to the developers of the Solana-based Magic Eden NFT marketplace, a DAO is in the making and the fundamentals behind the change. The team detailed that it started…
NFT gaming is on fire: Prices for NFT land plots are estimated to have risen on average 400% to 500% between September 2021 and January 2022. The “big four” NFT metaverses – Decentraland, Somnium Space, Cryptovoxels and Sandbox – will double their NFT revenues in 2022. On February 20th, Axie Infinity, the world’s leading NFT game, announced that it had surpassed $4 billion in all-time NFT sales. Within the NFT gaming space, an even more powerful trend is emerging: crypto gaming guilds. What are they? They are organized groups of…
This is a scenario with little guidance from the IRS. Based on precedent, airdrops like this will be taxed as ordinary income (i.e., short-term capital gains rates), generally, when the assets are recorded on ledger and/or enter your wallet. So if you don’t claim, you won’t have control of the asset and shouldn’t get taxed. When you sell the airdrop, it’ll be subject to capital gains tax rates. Source
Developed in Vietnam, Sipher is a casual-fighting game inside the Sipheria virtual world. Leah Callon-Butler discusses the project with head of partnerships Alain Dinh. Source
press release PRESS RELEASE. Celebrity NFTs have proven to be an important collectible class that continues to rise in popularity, including traditional auction sites. Beetlejuice, the pop-culture icon with millions of Howard Stern Show fans and social media followers, is now conquering the NFT world. His NFT continues to receive more views on Goldin‘s February Elite Auction than some of the most established collectibles of all-time, including Superman Comic #1, Tom Brady Autographed Rookie Card and Michael Jackson’s Stage-Worn Glove. Beetlejuice’s manager of 20 years, Bobby Rooney said, “Beetle’s fans…
Axie Infinity, the Ethereum-based video game, continues to amaze its fandom over the last year. Despite some hiccups, the play-to-earn game is relentless. In fact, it just made quite a bit of a noise this week after the Sky Mavis project snagged nearly $4 billion in all-time NFT revenues. The in-game currency of the P2E pet training universe, AXS, has appreciated by 2,544% against the US dollar during the last 12 months. On the other side, Smooth Love Potion (SLP) has had a less lucky year, with its value decreasing…
Russia’s largest social media network, Vkontakte, has announced it’s going to introduce support for blockchain and NFTs. The crypto technologies will be incorporated into the platform’s scheme for monetization of user content and copyright protection. Vkontakte to Facilitate Use of Non-Fungible Tokens The leading Russian social media platform, Vkontakte, intends to utilize blockchain technology and non-fungible tokens (NFTs), the company’s Technical Director Alexander Tobol unveiled in a recent interview with Vesti. Both will become part of a set of tools for monetizing user-generated content and protecting copyrights, the executive explained.…
This week, Axie Infinity, the blockchain-based online video game crafted by the Vietnamese software studio Sky Mavis, surpassed $4 billion in all-time non-fungible token (NFT) sales. Currently, the play-to-earn (P2E) game launched in 2018 is the third-largest NFT platform in terms of all-time sales. The Sky Mavis Crafted Blockchain Game Axie Infinity Records More Than $4 Billion in Lifetime NFT Sales The Ethereum-based video game Axie Infinity has been very popular during the last 12 months as the P2E pet training world has seen significant demand. The game’s native digital…